He GBP/USD is now seen cruising within the 1.2040-1.2260 range on the near term horizonas suggested by Lee Sue Ann, Economist at UOB Group and Quek Ser Leang, Market Strategist.
Featured Comments
24 hour view: “Although we expected GBP/USD to strengthen yesterday, we were of the view that “a sustained rally above the main resistance at 1.2200 is unlikely.” high and traded choppy before ending the day at 1.2176 (+0.29%). The move is likely to be part of a broad consolidation range and we expect GBP/USD to trade between 1.2110 and 1.2220 today.”
Next 1-3 weeks: “Yesterday (Feb 14, GBP/USD at 1.2140), we highlighted that instead of heading lower, GBP/USD is more likely to consolidate and trade between 1.2040 and 1.2260. GBP/USD briefly rose to 1.2269 over the American session before closing at 1.2176 (+0.29%). There is no change in our opinion and we continue to expect GBP/USD to trade between 1.2040 and 1.2260.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
